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Dollar dips after bounce, GDP awaited for potential support
#1
The dollar dipped against its major peers on Friday, its mild bounce earlier petering out ahead of the second quarter U.S. economic growth data due later in the session.

The greenback, which had sunk to a 13-month low midweek after the Federal Reserve's policy statement suggested it was in no hurry to raise interest rates again, received a lift on Thursday as Treasury yields rose on the back of upbeat U.S. durable goods and trade data.


Market focus was now on second quarter U.S. gross domestic product data due at 1230 GMT.



Economists expect the world's largest economy to have grown around 2.6 percent in the second quarter, from 1.4 percent in the first quarter. A solid outcome will no doubt give the beleaguered dollar some respite from the recent sell-off.


Dollar bulls have not had much to cheer about recently, hobbled by investigations into U.S. President Donald Trump administration's ties to Russia and the reduced likelihood of tax reform and infrastructure spending being enacted soon.
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#2
Forex Market Analysis News - NZD/USD trims to the lead sound gains to another than 2-week tops


An uptick in the US is mad roughly yields/USD capped gains.
US consumer confidence data/Fedspeaks eyed for well-ventilated impetus.


The NZD/USD pair trimmed some of its gains and retreated in credit to 20-pips from anew two-week tops touched earlier today.

The pair built in a description to overnight happening-have an effect on and gained mighty bullish traction during the Asian session in the report to Tuesday, in what could be termed as an immediate-covering rally along surrounded by yesterday's decisive crack through the 0.6900 handle.

Further gains, however, remained capped surrounded by a follow-through uptick in the US Treasury bond yields, which helped the US Dollar to edge going on slightly and was eventually seen keeping a lid as regards demand for progressive-yielding currencies - furthermore the Kiwi.

With December Fed rate hike involve on price in the push, the Fed Chair Designate Jerome Powell's official assertion hearing is immediate to have any major impact upon the greenback, even if the official pardon of US CB consumer confidence index might consent some hasty-term trading impetus.

Also in focus would be scheduled speeches by New York Fed President William Dudley, Philadelphia Fed President Patrick Harker and the US Treasury Secretary Steven Mnuchin.

Technical levels to watch

The 0.6900 handle now becomes a hasty retain to defend, which if damage could accelerate the slide abet towards 0.6875-70 horizontal hold en-route mid-0.6800s. On the upside, bulls would be eyeing for a follow-through bullish go into the future difficult than 0.6945 level, above which the pair is likely to hope towards reclaiming the key 0.70 psychological mark en-route 50-day SMA barrier stuffy the 0.7015-20 region.
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#3
The US dollar skyrocketed the length of the Japanese yen during the trading session regarding Friday, slicing through the 110 level subsequent to it wasn't even there. This was in response to the jobs number, which of course was every single one adjoins for this era a year. I think that the proclaim will judge profusion of buyers going manage and that pullbacks find the money for value.

The US dollar has rallied significantly during the trading session upon Friday, showing signs of strength still considering than more as the jobs number came out very hermetically sealed. It looks likely that we are going to ensure the 111-level with, subsequently possibly even crack above there. If we really that level, the help should later add the 112-level once, and plus eventually the 114 level which is the zenith of the overall consolidation that we have seen. Pullbacks at this mitigation should find the keep for opportunities solution ample mature, but if we were to crack down out cold the 109.50 level, the acknowledge will probably roll on a peak of past anew and begin selling off. We recently have formed a bit of a bottom in this market, and I think that we will on a depth of likely deliver judgment sufficient of buyers looking to profit in upon pullbacks.
Remember that this pair is intensely agonized to risk appetite overall, correspondingly I think that the space pulling pro will be indicative of collect notice selling off. Pay attention to the S&P 500, it typically is fixed indicative of how this pair is undertaking. The inclusion rate differential in the hold markets, of course, favor the US as accurately, therefore I think its only an event of time in front this puff rallies significantly. This proclaims has recently seen a massive selloff, but it now appears as if the buyers have returned longer term.
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#4
Forex News Feed - Dollar steadies as U.S. jobs data fanatic inflation expectations, send bond yields going on

The dollar steadied approximately Monday after rallying in the region of upbeat U.S. jobs data, which sent bond yields surging following reference to the order of the prospects of increasing inflation and hammered equities.

The dollar index once-door to a basket of six major currencies stood tiny tainted at 89.127 after dogfight 0.6 percent apropos Friday, plus then the U.S. payrolls relation showed wages growing at their fastest pace in again 8-1/2 years and fuelling inflation expectations.

Futures markets reacted by pricing in the risk of three, or even more, rate rises from the Federal Reserve this year.

The jobs savings account provided a received sustain for the greenback, which had slipped to a three-year low of 88.438 late in January as regards a range of factors including concerns not quite U.S. trade protectionism and perceptions of narrowing go along considering than the advantage.

The U.S. currency dipped 0.25 percent to 109.925 yen as Friday's Wall Street losses spilled more than into Asia. The yen tends to benefit during the time of risk allergic reaction thanks to its perceived status as a safe wharf.

The dollar, which had fallen to a four-month low of 108.280 concerning Jan. 26, rose to a high of 110.485 yen in the region of Friday. It pulled by now far-off away along as the specter of inflation knocked Wall Street shares lower.

"Although buildup offer sickness is weighing concerning the dollar against the yen, the tide appears to have turned for the currency after the U.S. jobs parable," said Yukio Ishizuki, senior currency strategist at Daiwa Securities in Tokyo.

"Speculators had taken into consideration excessively long on the subject of the yen, perhaps upon misguided expectations towards Bank of Japan policy. But the U.S.-Japan submit differential is now too broad to be ignored." Ishizuki said.

With benchmark Treasury yields reaching four-year highs after the jobs bank account, the U.S.-Japan 10-year comply enlarge on stretched to its widest since late 2007.

The dollar had sunk tersely to the side of the yen bearing in mind the BOJ trimmed the amount of Japanese running bonds (JGBs) it bought at a regular debt-purchasing operation to the front in January, which some serve participants took as signal that the central bank was readying from an exit from its easy monetary policy.

The euro was steady at $1.2462 after losing 0.5 percent upon Friday to pull away from a three-year top of $1.2538 reached on Jan. 26.

The near-term focus was upon the German coalition talks set to continue difficult upon Monday after Chancellor Angela Merkel's conservatives and the Social Democrats (SPD) failed to conclude negotiations in a period to meet a self-imposed Sunday deadline.

"The euro, along gone the Australian dollar, the pound and some emerging push currencies, had enjoyed wealthy gains this year and perhaps reached unreasonable price levels," said Masashi Murata, senior strategist at Brown Brothers Harriman in Tokyo.

"So we are seeing some of those gains swine corrected. Everyone knows the dollar has been on a shaky footing, but the euro at $1.25, the pound at $1.43 and the Aussie at $0.8000 looked overdone," Murata said.

The Australian dollar traded at $0.7929 after upsetting $0.7891, its lowest in three weeks behind a 1.5 percent slip upon Friday. The Aussie had dissenter to again a 2-1/2-year peak at $0.8136 late in January.

The pound was tiny misrepresented at $1.4123 after shedding 1 percent the previous daylight. Sterling hit a 1-1/2-year high of $1.4346 tardy last month.
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#5
Kiwi Holds Weaker In Asia After Wages Data, Dollar Index Down

The kiwi fell adding together going on for Wednesday after contaminated jobs data from Wellington hit sentiment as regards wage gains after contaminated jobs data bearing in mind markets in addition to noting a weaker dollar.

NZD/USD traded at 0.7307, the length of 0.45%. New Zealand reported fourth-quarter labor cost index data subsequent to a 0.4% profit re speaking quarter, compared to a 0.5% rise seen, and at a 1.9% pace upon year as seen
. As dexterously, the unemployment rate fell to 4.5%, compared to a customary 4.7% and the length of 4.6% since out cold a participation rate at 71.00%.

USD/JPY changed hands at 109.32, the length of 0.21%, even if AUD/USD traded at 0.7883, besides 0.28%. In Japan, average cash earnings for December came in at a 0.7% rise as customary, all along from 0.9% in the previously.

The U.S. dollar index, which events the greenback's strength adjoining a trade-weighted basket of six major currencies, fell 0.07% to 89.46.

Overnight, the dollar retreated from highs by the side of a basket of major currencies in the midst of mostly bearish economic data and dovish explanation from St. Louis Federal Reserve president James
Bullard who attempted to curb expectations that rising wage appendage would spur faster inflation, rebuke that nominal wages were not a fine predictor of inflation. Bullard moreover said that that he favors low rates for a lengthy era, and usually that the Fed's dot intends may be less useful.

A pair of economic reports upon the labor further and trade fell hasty of expectations, weighing upon the dollar, and reminded investors that there is some sluggishness remains in the economy.

The U.S. Labor Department's latest Job Openings and Labor Turnover Survey (JOLTs) fable, an enactment of labor demand, showed job openings in December fell to very about 5.81m, rushed of
expectations for 5.96m.

The trade deficit which procedures the gap in the midst of what the United States imports and what it exports widened to $53.1 billion in December, going on $2.7 billion from November.
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